Valuation – 12-Month Forward P/E of Top vs. Bottom Quintile Does valuation still matter? The premium of the 20% most expensive companies is near highs. Image: Goldman Sachs Global Investment Research
Valuation – 12-Month Forward P/E Premium (Discount) of Growth vs. Value Should investors favor value vs. growth, as the premium of growth companies reached all-time highs? Image: Goldman Sachs Global Investment Research
G10 Central Bank Government Bond Holdings Most central banks are expected to maintain the pace of their asset purchases through the rest of 2021. Image: Nordea and Macrobond
Emerging Markets Total Return Index (Equities Relative to Bonds) and OECD Core CPI (Leading Indicator) Emerging markets equities relative to bonds tend to lead OECD core CPI by 40 weeks. Image: BCA Research
Oil and Trade Weighted Dollar Futures Net Positions Historically, the U.S. dollar has tended to be inversely correlated with oil price movements. Image: Deutsche Bank Asset Allocation
S&P 500 Index Returns When the First 5 Days of a New Year Are Up More than 1.5% Historically, when the first 5 days of January are up more than 1.5%, the full year tends…
Total Equity Fund Flows vs. Global PMI Should investors expect more equity fund flows this year? Image: Deutsche Bank
Bitcoin Volatility vs. Other Assets (3M Rolling Volatility – Daily Returns) Bitcoin continues to be a highly volatile asset compared to other assets. Image: Goldman Sachs Global Investment Research
Valuation – S&P 500 12-Month Forward P/E The S&P 500 looks expensive by historical standards. Image: BCA Research
Sensitivity of S&P 500 Price to Real Rates and Breakeven Inflation Goldman Sachs expects breakeven inflation will continue to rise. The year-end S&P 500 price targets of 4300 this year and 4600 in 2022 remain…
Inflation – U.S. Consumer Price Index and ISM Manufacturing Prices Index (Leading Indicator) ISM manufacturing prices tend to lead headline inflation. Image: Morgan Stanley Wealth Management